As Japan signals its plans to become a leader in institutional blockchain adoption, Fireblocks is opening a regional office in Tokyo to support the country’s growing ecosystem.
Crypto custody and blockchain infrastructure provider Fireblocks has opened a new office in Tokyo as part of its strategy to expand in the Asia-Pacific region, the company said in a blog post.
The move comes as Japan sees rapid growth in its crypto market, with projections pointing to a 54% increase between 2024 and 2032, Fireblocks explains.
Fireblocks’ head of APAC, Amy Zhang, says the Tokyo office will help Fireblocks hire more staff in 2025 to support Japanese companies. The company also plans to forge partnerships with several web3 companies and financial institutions to strengthen its position in the region.
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Commenting on the launch of the office, Michael Shaulov, CEO of Fireblocks, said the company aims to meet the specific needs of the Japanese market and “ensure Japanese enterprises realize the full potential of blockchain technology in a safe and scalable way.”
Fireblocks’ expansion into Japan aligns with the Japanese government’s recent commitment to include cryptocurrency tax cuts in its upcoming economic stimulus package. The initiative, which aims to increase tax-free income thresholds and reduce taxes on crypto assets, was proposed by the opposition Democratic Party for the People.
As crypto.news previously reported, these tax reforms aim to make Japan’s tax system more supportive of digital asset growth, with some proposals aiming to lower the crypto tax to match the 20% rate on stock gains.
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